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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS ACQUISITION OF 36,000,000 ORDINARY SHARES OF RM0.25 EACH IN MAGNA PRIMA BERHAD, REPRESENTING APPROXIMATELY 10.84% EQUITY INTEREST OF THE TOTAL ISSUED AND PAID-UP CAPITAL OF MAGNA PRIMA BERHAD AT A PURCHASE CONSIDERATION OF RM66,600,000 (ACQUISITION)

HUA YANG BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
ACQUISITION OF 36,000,000 ORDINARY SHARES OF RM0.25 EACH IN MAGNA PRIMA BERHAD, REPRESENTING APPROXIMATELY 10.84% EQUITY INTEREST OF THE TOTAL ISSUED AND PAID-UP CAPITAL OF MAGNA PRIMA BERHAD AT A PURCHASE CONSIDERATION OF RM66,600,000 (ACQUISITION)

INTRODUCTION

The Board of Directors of HYB wishes to announce that the wholly-owned subsidiary of the Company, Prisma Pelangi Sdn Bhd (“PPSB”) has on 25 January 2017 acquired 36,000,000 ordinary shares of RM0.25 each in Magna Prima Berhad (“MPB”) (“Purchase Shares(s)”), for a cash consideration of RM66,600,000 (“Purchase Consideration”) via an off-market Direct Business Transaction.

Further details of the Acquisition are set out in the appendix below.




Please refer attachment below.

Attachments

Acquisition of MPB - FINAL.pdf
199.5 kB



Announcement Info

Company Name HUA YANG BERHAD
Stock Name HUAYANG
Date Announced 25 Jan 2017
Category General Announcement for PLC
Reference Number GA1-25012017-00001


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